Bitcoin Attempts To Break $16,000 (Again), But Do Fundamentals Support It?

[Jentot]

Bitcoin Attempts To Break $16,000 (Again), But Do Fundamentals Support It?

A recurring theme in 2020 has been endorsements from high profile investors. The latest is from renowned macro investor, Stanley Druckenmiller, who earlier in the week stated he owns bitcoin and gold given he expects the dollar to depreciate in value.
Furthermore, per The Block, “JPMorgan analysts said Grayscale's bitcoin trust saw cumulative inflows through October, whereas gold exchange-traded funds (ETFs) saw "modest outflows" since mid-October...This contrast lends support to the idea that some investors that previously invested in gold ETFs such as family offices, may be looking at bitcoin as an alternative to gold.”

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